Accounts Payable Accounts Receivables Processing BOT
Capture & Extract Invoice Data In Minutes
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ImperaSMART-AI-enabled Invoice Processing Solution
Seamless Integrations For Better Invoice Management
Turn Accounts Payable Into A Profit Center
ImperaSMART is a platform which has completely automated the invoice processing, which is the entire process your company's accounts payable and receivable team uses to handle supplier & customer invoices. It starts when you receive/send an invoice and finishes when payment has been made/received and recorded in the general ledger. You can receive/provide paper invoices, PDF, or other electronic means. But these physical documents will be completely digitalised :-
Impera SMART invoice processing software is used by the accounts payable department to streamline invoice processes, add more control over internal processing functions with tracking functionality, and improve the speed at which vendor invoices are processed.
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Invoice processing is an accounts payable function that handles the invoice life cycle consisting of invoice receipt, invoice approval or rejection, invoice payment, and the invoice archive processes.
Here are the invoice processing steps:
Capture. Vendor invoices are received by fax, mail, email, or captured by an accounts payable system.
Register. Invoices are prepared for approval by coding and updating the invoice data.
Dispatch. Authorized approvers are sent invoices for a payment decision.
Approval/Rejection. Approvers will either approve or reject the dispatched invoice for payment.
Payment. The approved invoices are then processed for payment.
Archive. Paid invoices are stored either in a file cabinet or online system with invoice processing history for later reference or audits.
Invoice processing software in comparison to manual paper process is a digital technology and is used by accounts payable to electronically handle vendor invoices from receipt to archive.
Automated invoice processing or invoice processing automation uses software to automatically perform steps in the invoice lifecycle such as data capture, and dispatch for approval. Note that invoice processing software can either be automated or manually performed by accounts payable on a computer.
An invoice is not a receipt and the key difference between the two is that an invoice is issued before payment as a way of requesting compensation for goods or services, while receipts are issued after payment as proof of the transaction. An invoice tracks the sale of a business's goods or services.